EUR/USD

The EUR/USD pair is showing slight corrective growth, recovering from a sharp decline the day before, as a result of which the single currency retreated from the local highs of September 25. The instrument is again testing 1.0550 for a breakout, waiting for new drivers to appear on the market. The focus of investors' attention today is on inflation statistics from France and Spain: the French Consumer Price Index added 5.7%, which was 0.1% higher than the previous value, and the Spanish one added 3.5%, coinciding with analysts' expectations. In addition, today the eurozone will publish August data on Industrial Production, forecasts for which suggest an acceleration of negative dynamics from -2.2% to -3.5%. Also during the day, investors expect a speech from the President of the European Central Bank (ECB), Christine Lagarde. In turn, the US will present October statistics on the Consumer Confidence Index from the University of Michigan, which may reflect a decrease in the indicator from 68.1 points to 67.4 points, and the publication of the US Monthly Budget Statement for August is also expected. Forecasts call for a budget deficit of 78.6 billion dollars, following a surplus of 89.0 billion dollars a month earlier.

GBP/USD

The GBP/USD pair is showing moderate growth, again trying to consolidate above 1.2200 after a rather active decline the day before. The reason for the strengthening of the American currency was the September inflation data, which increased the risks of another hike in the cost of borrowing by the US Federal Reserve before the end of this year. The Consumer Price Index in September remained at the same level of 3.7% in annual terms, while analysts expected 3.6%, and in monthly terms the indicator slowed down from 0.6% to 0.4%, which also turned out to be slightly higher than expectations at 0.3%. The Core CPI, as projected, fell from 4.3% to 4.1% in annual terms and remained unchanged at 0.3% in monthly terms. In turn, the pound received minor support against the backdrop of macroeconomic statistics from the UK. Gross Domestic Product (GDP) rose 0.2% in August after -0.6% in the previous month, the Services PMI added 0.1% after -0.1% in July, and Industrial Production fell by 0.7% after -1.1%, while forecasts suggested -0.2%. At the same time, in annual terms the indicator accelerated from 1.0% to 1.3%, which also turned out to be worse than the expected 1.7%.

NZD/USD

The NZD/USD pair is declining slightly, developing the corrective "bearish" impetus formed on Wednesday. The instrument is testing the level of 0.5910 for a breakdown, updating local lows from October 5. The day before, quotes showed the strongest negative dynamics in the last few months, which was due to the strengthening of positions in the American currency against the backdrop of the publication of inflation data in the US. In September, the Consumer Price Index added 0.4% on a monthly basis and 3.7% on an annual basis, which turned out to be slightly higher than forecasts at the levels of 0.3% and 3.6%, respectively. At the same time, Initial Jobless Claims for the week ended October 6 increased from 207.0 thousand to 209.0 thousand, while experts expected an increase to 210.0 thousand, and Continuing Jobless Claims for the week ended September 29 went up from 1.672 million to 1.702 million, which was higher than market expectations of 1.680 million. Macroeconomic statistics from New Zealand are putting some pressure on the instrument today: in September, Electronic Card Retail Sales decreased by 0.8% after growing by 0.6% in the previous month, and in annual terms the figure slowed down from 4.2% to 1.6%. The country's Manufacturing PMI also decreased from 46.1 points to 45.3 points. Another negative factor for the NZD/USD pair was macroeconomic statistics from China, where the Consumer Price Index in September dropped from 0.1% to 0.0% in annual terms, while analysts expected 0.2%, and in monthly terms it went down from 0.3% to 0.2%.

USD/JPY

The USD/JPY pair shows a slight decline, remaining close to 149.60. Over the past three trading sessions, the American currency has again shown moderate growth against the yen, receiving support from expectations of another tightening of monetary policy by the US Federal Reserve before the end of this year. In particular, this was supported by the September inflation data published the day before. The Consumer Price Index remained unchanged at 3.7% in annual terms, while analysts expected it to slow down to 3.6%, and in monthly terms the figure dropped from 0.6% to 0.4%. Thursday's Japanese statistics turned out to be ambiguous, but did not have a noticeable impact on the instrument's dynamics. The volume of Bank Lending in September adjusted from 3.1% to 2.9% with neutral forecasts, and the volume of Machinery Orders in August decreased by 0.5% after -1.1% a month earlier, while experts expected the emergence of positive dynamics at 0.4%. In annual terms, the figure rose from -13.0% to -7.7%, which was close to the expected -7.3%.

XAU/USD

The XAU/USD pair is showing restrained growth, winning back losses incurred the day before, as a result of which the quotes failed to consolidate at the new local highs of September 27. The instrument is testing the level of 1877.00, receiving support from previous factors, such as growing demand for safe assets amid worsening global economic prospects due to the escalation of the conflict in the Middle East. At the same time, gold still competes with the US currency, which also generates interest income. Moreover, macroeconomic statistics on inflation published the day before indicated the possibility of another interest rate increase by the US Federal Reserve before the end of this year, which somewhat weakened the upward trend for the instrument in the short term. In September, the Consumer Price Index added 0.4% on a monthly basis and 3.7% on an annual basis, which turned out to be slightly higher than market expectations of 0.3% and 3.6%, respectively. Today, investors will evaluate October data on the University of Michigan Consumer Confidence Index for October. Forecasts suggest a decrease in the indicator from 68.1 points to 67.4 points. Also during the day, the US Monthly Budget Statement for August will be published.